Global High Performance Tire Market Estimated to Grow at a CAGR of 15.5% till 2023
Transportation News and Press release service

Home > Transportation News
  • Aerospace News
  • Air Services News
  • Airlines News
  • Auto Dealership
  • Auto Manufacturers
  • Auto Parts News
  • Railroad News
  • Shipping News

    Watch Transportation News Video


  • Global High Performance Tire Market Estimated to Grow at a CAGR of 15.5% till 2023

     



    (Transportation-News.com, February 16, 2018 ) The high-performance tire market is expected to witness an estimated CAGR of around 15.5% during the forecast period, 2018-2023. High-performance tires have a substantial demand from the aftermarket segment, particularly in the racing segment. A racing vehicle requires about nine to 14 sets of tires on an average in a racing championship circuit. In a racing championship, a team requires an average of 36-58 tires. The average cost of a racing tire ranges from USD 1,500-USD 2,600, which costs around USD 63,000–USD 157,000 for a team to buy racing tires, per championship. The market is expected to grow significantly with the increased interest among racing enthusiasts. Racing and sporting events have played a significant role in the growth of the automotive industry, offering automotive manufacturers an opportunity to promote high-performance automotive components such as engines, external parts and tires.

    Browse details of 109 pages research report developed on Global High Performance Tire Market @ https://www.researchcosmos.com/reports/global-high-performance-tire-market-industry-analysis-trends-and-forecast-2018-2023/8686452

    Growing Popularity of Diverse Racing Competitions is Majorly Driving the Market

    The sales of high performance tires have increased significantly due to the rise in the number and type of automotive racing competitions, which act as major drivers for the high performance and ultra-high performance tire market. Increase in popularity for various types of automotive racing around the world has helped to boost the growth of the market to a significant extent. Competitive automotive racing was initially focused on popular car racing series such as Formula One, NASCAR, and motorbike races, which attracted many sponsorships and promotional activities. However, there has been an increase in the variety of races with different types of vehicles having varying engine sizes, such as SUVs, dirt bikes, monster trucks, solar car, sprint car and touring car. The reinforcement variants available in the manufacturing of racing tires is a key development across the high performance tire market.

    Avail Sample Market Brochure of the report for more information to evaluate report usefulness, Get a Copy @ https://www.researchcosmos.com/request/8686452

    Key Developments in the Market
    • April 2016: Michelin announced the specially developed version of its Pilot Sport Cup 2 tires, to be the sole original equipment fitment on the new limited special model BMW M4 GTS.
    • January 2018: Petlas’ forklift tires range has been stretched out to include 17 sizes and three patterns (HL10, HL30 and HL40).
    • January 2015: Michelin launched the BIBLOAD, which is specifically designed for asphalt and other solid surface applications.

    Major Key Players:
    BRIDGESTONE, MICHELIN GROUP, MRF TIRES, GOODYEAR DUNLOP TIRES, CONTINENTAL, YOKOHAMA RUBBER CO., LTD amongst others

    Reasons to Purchase this Report
    • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
    • Study on product type and application expected to dominate the market?
    • Study on regions expected to witness fastest growth during the forecast period?
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • 3 months analyst support along with the Market Estimate sheet (in excel)

    Customization of the Report
    • This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.

    Inquire before buying this report @ https://www.researchcosmos.com/inquire/8686452

    About Research Cosmos:
    Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on gamut of sectors across the globe. We’re associated with world renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.

    Contact Us:
    Kevin Stewart
    Sales Manager
    Research Cosmos
    www.researchcosmos.com
    kevin@researchcosmos.com
    # +1 888 709 8757

    Research Cosmos

    Dani Rodriguez

    +1 888 709 8757

    dani@researchcosmos.com

    Source: EmailWire.Com

    Source: EmailWire.com

    Transportation Resources

    For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.
    Copyright 2007 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    EuropeNewswire.net - Newswire and Press Release service of GroupWeb Media LLC